Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.
I think its more accurate to say anti freedom. The Chinese State does not want something they cannot control, remember the State and politicians are control freaks. They want the POWER to change the coin rules at anytime to suit their needs (this occurs in most countries, not just China, but they are one of the most honest about it.
See, just cloning Bitcoin and renaming it wouldn't just do, they want back the ability to create as many as they want on a whim, they don't want others not them controlling it, exactly like Venezuela did to Petro (from Dash).
Mining is a bit different because to them its just another commercial (export) activity that produces wealth. They would be fools to stop that, as long as the miners pay the electricity and associated taxes.
It is also true that some private entities are moving virtual money (electronic payment), maybe they also want to end those because its no in their direct control.
Tokens were banned first probably because there were so many scams associated with them, but that very old news. Bitcoin is another matter altogether, but a country cannot adopt it without willing to surrender their gov control of the money, which is a huge step in freedom. A coin that cannot be devalued is a coin that the Chicago school of economy fears, because it will lead to deflation. Therefore unless you study and adopt the Austrian school of economy and drop the other one, you will never understand how a world economy can function with it. Most economists and politicians only know the Chicago school (or worse, Keynes, Marx, etc). Even people in this forum are mostly unaware of the Austrian school and are fearful of deflation, because they don't know any better.
Study Mises, and clear your doubts. The economy CAN function with a coin that does not lose value over time:
https://mises.org